05-07-2023, 12:34 PM
Lizabeth wrote:
Sic the tax man on him…he owes major bucks for all that stuff…
An astute comment.
Harlan Crow and Clarence Thomas Are About to Learn About Gift Taxes
…But what about Crow’s judgment? Did he file gift tax returns and pay gift taxes on any of the gifts he provided to the Thomas family?
It is a reasonable question to ask, and Sen. Ron Wyden (D-OR) appears to have formally done so, with a reported due date of a response May 8. In lieu of gift taxes, did Crow expense the value of the trips and tuition provided the Thomases on either personal or business income tax returns?
If Crow took business expense deductions for the above referenced “gifts,” then he can’t claim they were gifts.
…but…
Now, if Crow did take business deductions for the value of the luxury vacations provided to the Thomases, he would have opened up another can of worms for himself tax-wise. That’s because Crow has publicly stated he did not discuss any business before the court with Justice Thomas.
If that is true, then it is possible that Crow falsified his income tax returns by expensing the cost of the vacation provided the Thomases…
These justices are taking amounts waaaay over gift tax limits. Unless they paid gift taxes (spoiler: almost certainly not), there’s illegal financial hanky-panky going on.